BackReliance Jio Q2 results: Net profit grows 23.5% to ₹3,728 cr; ARPU at ₹144
Jio saw its revenue from operations rise to ₹19,777 crore, up 7 per cent from ₹18,496 croreEBITDA for the quarter under review stood at ₹9,294 crore, as compared to ₹7,971 crore a year ago
PremiumReliance Jio, the telecom arm of Reliance Industries, reported a consolidated net profit of ₹3,728 crore for the quarter ended September 30, 2021, marking a rise of 23.5 per cent as compared to the year-ago period. The telecom major had posted a net profit of ₹3,019 crore during the three months of September 30, 2020. Cash profit for the three months to September 2021 ₹8,206 crore, higher by 18.2 per cent Y-o-Y.
The company saw its revenue from operations rise to ₹19,777 crore, up 7 per cent from ₹18,496 crore. Gross revenue for the quarter was ₹23,222 crore, up by 15.2 per cent Y-o-Y after adjusting for IUC, as opposed to ₹21,708 crore in the year-ago period.
Also Read: Reliance Q2 results: Consolidated net profit surges 43% to ₹13,680 cr
EBITDA for the quarter under review stood at ₹9,294 crore, as compared to ₹7,971 crore a year ago. EBITDA margin improved 390 basis points to 47 per cent during the quarter under review as opposed to 46.9 per cent in the corresponding quarter last year.
Reliance Jio saw its average revenue per user (ARPU) rise to ₹143.6 per subscriber per month during the period under review, which is 3.7 per cent higher than the previous quarter, Jio said in a regulatory filing.
Jio saw its customer base expand to 429.5 millionm, as on 30th September 2021, after a net addition of 23.8 million customers on annual basis. Total data traffic during the quarter was recorded at 23.0 billion GB, a 50.9 Y-o-Y growth, whereas total voice traffic was grew 17.6 per cent to 1.09 trillion minutes.
Announcing the september quarter financial results, Jio reiterated that JioPhone Next, the affordable smartphone it has jointly developed with Google, will be released “in time for the Diwali festive season".
The telecom giant further said that 5G field trials have started at various locations with competitive position and capabilities comparable to global Tier1 vendors. Jio further mentioned that it has entered into partnerships with leading automobile OEMs in both two-wheeler and four-wheeler segments to provide automotive solutions designed to deliver an array of consumer and enterprise services.
Meanwhile, Reliance Industries Ltd (RIL) today reported a consolidated net profit of ₹13,680 crore for Q2 FY22. It is up 43 per cent from ₹9,567 crore clocked in the corresponding quarter of last year.
Reliance Industries shares zoomed ahead of the earnings announcement on Friday, reaching 2,627.05, up 4.05 points or 0.15 per cent, on BSE.
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